Furnished Office
For Sale
$485,000
1531 Bradford Parkway, Springfield, MO 65804
Three executive offices, a conference room, and a built-in reception area create a functional professional workspace.
Property Size1,942 SF
Price / SF$249.74
Days on Market227
Property Features for 1531 Bradford Parkway
General Information
Standard status
Active
Size
1,942 SF
Class
Class A
Property subtype
Office
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,774
Amenities
reception area
coffee bar/bistro lounge
conference room
copy/work room
slate flooring
exposed wood beams
designer lighting
large windows
ADA-compliant
Central Air, Electric, A/C - Zone
3
Composition
Paved Driveway, Carport.
City
Condominium is on 1.93 A
Sidewalks.
Building Details
Year Built
2002
Owner Occupied
No
Listing Agency:
Primrose
Listed By:
Murney Associates
(417) 823-2300
Source:
Xome
Added: Jan 21
Changed: Sep 2
Last Checked: Sep 5 at 5:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Primrose
Investment Insights
Based on property information with market context.
This 1,942-square-foot office unit at Bradford Place Office Condominiums is furnished and vacant for immediate occupancy. The layout includes a reception and greeting area with a built-in desk, adjacent coffee bar and bistro lounge, three executive offices, a conference room, and a copy and work room with cabinetry and storage. Slate flooring, exposed wood beams, designer lighting, soaring ceilings, and large windows bring distinctive character and natural light to the suite.
The property is fully ADA-compliant and positioned near the James River Freeway, with access to Springfield’s Medical Mile and established office district. The condominium was built in 2002 and sits within a 1.93-acre development with sidewalks and paved driveway access. Central air with zoned electric A/C supports year-round office operations.
The property is fully ADA-compliant and positioned near the James River Freeway, with access to Springfield’s Medical Mile and established office district. The condominium was built in 2002 and sits within a 1.93-acre development with sidewalks and paved driveway access. Central air with zoned electric A/C supports year-round office operations.
Key Highlights
- 1,942 SF furnished office unit at Bradford Place Office Condominiums
- Three executive offices plus a dedicated conference room
- Reception area includes a built‑in desk and adjacent coffee bar/bistro lounge
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,388
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$307,760
$307.8K
Cap Rate 7%
$219,829
$219.8K
Cap Rate 9%
$170,978
$171.0K
Market Conditions
NOI Build-Up for 1,942 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.4K $11.04/SF
− Vacancy
−$922 −$0.47/SF
EGI
$20.5K $10.57/SF
− OpEx
−$5.1K −$2.64/SF
NOI
$15.4K $7.92/SF
Area
Springfield, MO
Vacancy
4.30%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$307,760
Cap Rate 7%
$219,829
Cap Rate 9%
$170,978
Alternative Uses
Best Use
Office B
$219.8K
$192.4K – $256.5K
NOI $15,388 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,510
Businesses Nearby
Explore this area
Business Placement
Demographics for 65804, MO
40,064
Population
20,118
Households
2
Avg Household Size
40
Median Age
42%
College-Educated
97%
High-School Grad
18.6 sq mi
ZIP Area
2,154
Density / Sq Mi
$58,288
Median Household Income
$40,103
Median Earnings
$898
Median Rent
$227,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Three executive offices, a conference room, and a built-in reception area create a functional professional workspace.
Where is this office units located?
The property is located at 1531 Bradford Parkway Springfield, MO.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: 1,942 SF furnished office unit at Bradford Place Office Condominiums; Three executive offices plus a dedicated conference room; Reception area includes a built‑in desk and adjacent coffee bar/bistro lounge
